In the industrial segment, the Internet of Things (IoT) is changing everything, or it soon will: From industrial equipment, to processes and the way people work, to business models and even core requirements, everything is shifting.
“We have become incessant about the word ‘why’,”says Mark Bernardo, leader of Professional Services, Americas at GE Digital Services. “‘Explain to me why that particular requirement is needed.’ Once you get to the root of that, you’ll essentially come to the desired outcome.”
And outcomes are what it’s all about, he says. By instrumenting and connecting industrial equipment, the industrial internet promises the ability to rewrite business models themselves.
“Instead of selling a turbine, what if we sold guaranteed megawatt output?” Bernardo asks. “What if instead of selling a jet, we sold uptime or thrust? It really does create a shift from a product-based world to an outcome-based world.”
“Simplify the solve,” he says. “IoT, cloud, analytics, mobility — everyone understands the value, but they feel complex. Get yourself connected. Find the most important assets and processes and prioritize getting the data off of that and delivering insights to the right people.”
“Your business has to transform. Your behaviors have to transform. Your talent has to transform,” he adds.
I love this. This is don’t sell the drill, sell the hole that the drill makes. This is the foundation for an integrated solution where the manufacturer is also the operator and service provider.